Binance is available for use in Japan, but it is important to note that Japanese residents must use Binance Japan, the compliant platform launched after Binance acquired the licensed Japanese exchange Sakura Exchange BitCoin. You can visit the global site through the Binance Official Website, download the Binance Official APP and select the appropriate region, or refer to the iOS installation guide for detailed installation steps.
Cryptocurrency Regulation in Japan
Japan was one of the first countries in the world to introduce legislative oversight for cryptocurrencies. Since 2017, the Financial Services Agency (FSA) has required all cryptocurrency exchanges to hold a license to operate within Japan.
The current regulatory framework in Japan includes:
- The Payment Services Act: Defines cryptocurrency as a legal means of payment.
- Exchange Licensing System: All platforms must be registered with the FSA.
- Anti-Money Laundering Requirements: Strict compliance with KYC/AML standards.
- Segregation of Assets: User assets must be stored separately from the platform's own assets.
As of now, the Japanese FSA has approved more than 30 cryptocurrency exchanges to operate, with Binance Japan being one of them.
What is Binance Japan?
Binance Japan is the compliant operating entity of the Binance Group within Japan. In 2023, Binance acquired the local Japanese exchange Sakura Exchange BitCoin (SEBC), thereby obtaining the cryptocurrency exchange license issued by the FSA, and officially launched the Binance Japan platform later that year.
Differences between Binance Global and Binance Japan:
| Feature | Binance Global | Binance Japan |
|---|---|---|
| Tradable Assets | Over 350 | Approx. 50 |
| Leverage Trading | Supported (up to 125x) | Max 2x |
| KYC Requirements | Basic Verification | Japanese Residency Mandatory |
| Fiat Support | Multiple Fiats | Japanese Yen (JPY) |
| Regulator | Various | Japan FSA |
How to Download the Binance APP in Japan
Users in Japan can follow these steps to download the Binance APP:
Android Download Method
- Open the Google Play Store and search for "Binance".
- Locate the official application (Developer: Binance Inc.) and click Install.
- Once installed, open the APP and select the Japan region.
- Register a Binance Japan account using a Japanese phone number or email address.
iPhone Download Method
- Ensure your Apple ID region is set correctly (the app is searchable in the Japan App Store).
- Search for "Binance" in the App Store.
- Download and install the official APP.
- If you cannot find it, refer to the iOS installation guide for alternative methods.
Registering a Binance Japan Account
- Open the APP and select the Japan region.
- Enter your email address and set a password.
- Complete the email verification process.
- Complete KYC Identity Verification—the following materials are required:
- Japanese Resident Identity Card (My Number Card) or Passport.
- Proof of Japanese residential address.
- A selfie photo.
- KYC review typically takes 1-3 business days.
- Once verified, you can deposit Japanese Yen and begin trading.
Key Considerations for Using Binance in Japan
There are several critical points to understand when using Binance in Japan:
Taxation: Japan imposes relatively high tax rates on cryptocurrency gains. Profits are classified as "Miscellaneous Income," with tax rates ranging from 15% to 55% (progressive tax) depending on your total income level.
Compliance: Residents of Japan can only use Binance Japan and are not permitted to register for the Global site. If you previously held a Global account, you may need to migrate it to the Japan site.
Asset Restrictions: Binance Japan supports significantly fewer cryptocurrencies than the Global version, with approximately 50 available. If you need to trade a wider range of altcoins, you might consider using decentralized exchanges via on-chain transfers.
Deposit and Withdrawal Methods: Binance Japan supports the following:
- Japanese Bank Transfer (JPY).
- Cryptocurrency deposits/withdrawals.
- Credit/Debit card purchases (limited support).
Can I Use Binance While Traveling or Living Briefly in Japan?
If you are not a resident of Japan and are only traveling or staying briefly:
- Existing Global Account Holders: You can continue using Binance Global via a VPN or direct access.
- New Users: It is recommended to register for the Global site using non-Japanese identity information.
- Note that the network environment in Japan generally does not restrict access to the Binance Global website.
Frequently Asked Questions (FAQ)
Do Japanese residents have to use Binance Japan?
Yes, under Japanese law, residents must use exchanges that hold an FSA license. Binance Japan is the compliant platform for Binance in Japan. Using the Global site may risk account restrictions.
What are the trading fees on Binance Japan?
The spot trading fee on Binance Japan is 0.1% (same for Maker and Taker), and holding BNB provides a discount. JPY deposits are usually free, while withdrawal fees vary by bank.
Is futures trading available on Binance Japan?
Binance Japan does not currently offer high-leverage futures trading; it only supports up to 2x leverage. This is due to strict FSA regulations on leverage trading. If you require higher leverage, other solutions must be considered.
Do I need to pay taxes on crypto purchases in Japan?
Yes. Japanese tax law classifies cryptocurrency profits as miscellaneous income, subject to a progressive tax rate of 15% to 55%. You must report your gains during the final tax return (Kakutei Shinkoku) each year. Using dedicated crypto tax software to track transactions is recommended.
Which cryptocurrencies are supported by Binance Japan?
Binance Japan currently supports about 50 cryptocurrencies, including major ones like BTC, ETH, BNB, XRP, SOL, and DOGE, as well as tokens approved by the FSA. The list is updated periodically.